Journal and Ledger Entries
One of Odoo’s exciting bookkeeping features incudes journal and ledger entries. This tool helps you create journals for your customer invoices, credit notes, bank transactions and supplier bills. You can also set specific journals to specific accounts to eliminate the possibilities of entering data in a wrong journal.
There is also a general ledger comprising of debits and credits in your entire business transactions. You can filter the ledger reports for more than one account, and also print as necessary.
Profit and Loss Reports and Balance Sheet
Odoo’s balance sheet gives you insights into your business’s assets, liabilities, and stakeholder’s equity for every period. While preparing your financial report, this tool allows you to set a default account for Reserve and profit and loss. You can also print each report as necessary.
Cash and Bank Reconciliation
Odoo accounting’s cash and bank tool helps in completing error-free reconciliation. Its direct reconciliation proposition ensures that your payments (online, cash, and bank) are rightly matched with your bills and invoices.
The software works in sync with more than 15,000 banks, allowing for automated bank feed, multiple-format statement transfer, and accurate register management. There are also system-generated reconciliation reports to ease your audit processes.
Cash and Bank
Odoo accounting’s cash and bank management feature empowers users for error-free reconciliation. In addition, its direct reconciliation proposition ensures that your payments (online, cash, and bank) are rightly matched with your invoices.
The software supports more than 15,000 banks and allows for automated bank feed, accurate register management, and multiple-format statement transfer. You also have system-generated reconciliation reports to help you during auditing.
The Odoo accounting app features an all-encompassing revenue tool to help you identify, manage and grow your business assets.
Odoo takes account reporting a notch higher by ensuring that you can generate reports and synchronize them across multiple company profiles. From its customizable dashboard, you can automate the calculation of your P and L, annotate each report and set your users’ lock entry.